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I want to go between 50 and 55?
Countalot
Posts: 20 Forumite
I will be 50 in Nov 2009. I work part time currently save all my salary £30k thru regular savers and fixed rates after topping up cash & other Isas for hubbie and myself. This will change mid 2011, as will need 2/3 as income replacement although I'm sure this could be cut significantly.
Work although well paid is soul destroying and I want to give up/trade down and look after my family and self. Have a defined benefit NHS pension (1.5yrs) and also 20 years preserved civil service classic scheme (current value 2007 £9847). Don't think I can go on beyond next 4/5 years so what's the best strategy to allow this to happen? We have circa £195k in various savings plans, endowments ISAs etc at the moment but am not sure this is doing the best for us. Also wish to use £100k for the kids to pay for college and house deposit sometimeover the next ten years. I am living in cloud cuckoo land to think I can "retire" or downshift jobs in four years and still support the children? Any advice direction appreciated.
Work although well paid is soul destroying and I want to give up/trade down and look after my family and self. Have a defined benefit NHS pension (1.5yrs) and also 20 years preserved civil service classic scheme (current value 2007 £9847). Don't think I can go on beyond next 4/5 years so what's the best strategy to allow this to happen? We have circa £195k in various savings plans, endowments ISAs etc at the moment but am not sure this is doing the best for us. Also wish to use £100k for the kids to pay for college and house deposit sometimeover the next ten years. I am living in cloud cuckoo land to think I can "retire" or downshift jobs in four years and still support the children? Any advice direction appreciated.
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